Capstone Copper Corp (CSC)
Hello James and Shawn, I am looking for a supplementary copper investment to Sandfire (SFR), the only sizable pure Cu producer listed on the ASX. What are your views of Capstone Copper (CSC)? I do value your opinions, John
The Latest Q&A
Answer
Hi John,
Canadian based, ASX dual-listed, copper miner Capstone Copper (CSC) disappointed the market with this week’s fourth quarter earnings update:
- Revenue $685mn, +53% YoY, estimates $659.5mn.
- Adjusted EPS 10c vs 4c YoY, estimates were 13c.
- Adjusted EBITDA $308mn, +79% YoY, estimates $311mn.
- Copper production 58,273 tonnes, +8% YoY.
Not a great week to disappoint the market with CSC trading down towards its 2025 lows as a result. We now see value in CSC around $13, after its ~30% correction, though we are somewhat weary of miners that underwhelm operationally, making SFR still our No 1 pick, with BHP also heavy into Copper these days.
